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Commitments and Contingencies (Tables)
9 Months Ended
May 27, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Operating Lease Cost and Information Related to Operating Lease Right-of-use Assets, Net and Operating Lease Liabilities

The following table presents the operating lease cost and information related to the operating lease right-of-use assets, net and operating lease liabilities for the thirty-nine weeks ended May 27, 2023:

 

(In thousands, except lease term and discount rate)

 

 

 

Lease cost

 

 

 

Operating lease costs including short-term lease expense and variable lease costs, which were immaterial in the period

 

$

18,153

 

 

 

 

Operating cash flow impacts

 

 

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

$

12,089

 

Operating lease right-of-use assets obtained in exchange for new operating lease liabilities

 

$

22,809

 

Weighted-average remaining lease term - operating leases

 

 

4.33

 

Weighted-average discount rate - operating leases

 

 

2.77

%

Schedule of Contractual Future Minimum Lease Payments of Operating Lease Liabilities

The contractual future minimum lease payments of the Company's operating lease liabilities by fiscal year are as follows as of May 27, 2023:

 

(In thousands)

 

 

 

2023 (remaining three months)

 

$

5,341

 

2024

 

 

18,773

 

2025

 

 

14,878

 

2026

 

 

11,540

 

2027

 

 

8,654

 

Thereafter

 

 

9,199

 

Total payments

 

 

68,385

 

Less interest

 

 

(3,982

)

Total present value of lease payments

 

$

64,403

 

Schedule of Changes to Environmental Liabilities The changes to the Company’s environmental liabilities for the thirty-nine weeks ended May 27, 2023 were as follows (in thousands):

 

 

May 27, 2023

 

Balance as of August 27, 2022

 

$

32,191

 

Revisions in estimates

 

 

(5

)

Costs incurred for which reserves have been provided

 

 

(1,374

)

Insurance proceeds

 

 

122

 

Interest accretion

 

 

777

 

Changes in discount rates

 

 

(1,717

)

Balance as of May 27, 2023

 

$

29,994

 

Schedule of Anticipated Payments and Insurance Proceeds of Currently Identified Environmental Remediation Liabilities

Anticipated payments and insurance proceeds of currently identified environmental remediation liabilities as of May 27, 2023, for the next five fiscal years and thereafter, as measured in current dollars, are reflected below.

(In thousands)

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

2027

 

 

Thereafter

 

 

Total

 

Estimated costs – current dollars

 

$

10,819

 

 

$

3,051

 

 

$

1,741

 

 

$

1,437

 

 

$

1,250

 

 

$

14,947

 

 

$

33,245

 

Estimated insurance proceeds

 

 

(113

)

 

 

(159

)

 

 

(173

)

 

 

(159

)

 

 

(173

)

 

 

(230

)

 

 

(1,007

)

Net anticipated costs

 

$

10,706

 

 

$

2,892

 

 

$

1,568

 

 

$

1,278

 

 

$

1,077

 

 

$

14,717

 

 

$

32,238

 

Effect of inflation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10,165

 

Effect of discounting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(12,409

)

Balance as of May 27, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

29,994